Europe Markets End Higher
Canada's benchmark TSE 300 ended the day essentially flat, up 1.8 points to 7200.2. Investorss are banking on another interest rate cut from the Central Bank after a Monetary Policy Report from the Bank of Canada said there is continuing economic uncertainty. European markets finished higher as U.S. stocks strengthened. In London, the Financial Times-Stock Exchange 100 index was up 2.20 points, or 0.04%, to 5,216 with the biggest gains coming from Vodafone, BP-Amoco and ScottishPower. In France, the CAC 40 added 31.58 points, or 0.71%, to 4,493.27. In Germany, the DAX Index gained 148.35 points, or 3.15%, to 4,856, amid short covering and better than expected results from carmaker BMW.
Asian markets closed lower. Qualcomm's poor results pressured tech shares in Japan while worries over the banking industry there also dragged stocks lower. The benchmark Nikkei average fell 3.28%, or 348.74 points to 10,284.98, its lowest close since Oct. 10. In Hong Kong, the Hang Seng lost 86.26 points, or 0.83%, to 10,269.79, amid worries about a global economic slowdown.